EUR/USD technical analysis
- EUR/USD is dropping from the highs.
- The market is in a strong bearish trend.
- The break of the blue level is cueing for a continuation.
- The doors towards 1.1390 is open.
Daily chart EUR/USD
- The high of the waterfall pattern.
- A drop close to the blue zone.
- Bearish entry zone.
- Possible target.
The EUR/USD on the daily timeframe is very bearish. The waterfall pattern suggests a strong bearish impulse and we should see the price moving don below the blue zone and towards the Q L3 camarilla pivot. At this point we could see a strong bearish impulse leading further down as we have back-to-back parallel bearish candlesticks. Targets are Q L3 camarilla pivot and M L4. 1.1485 and 1.1390.
